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Crescent - NIGEC, Gas Export to UAE, Salman Field

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Iran and the UAE signed a $2 billion 25-year natural gas contract, agreeing on gas delivery in 2005. Since then, Crescent and NIGEC have not come to terms, and no gas has been shipped. Crescent has decided to seek international arbitration to solve the dispute. The original contract stipulated the NIOC was supposed to export 17 million cubic meters of gas daily. Iran has said that the gas will come from the Salman gas field. Iran hopes to begin production of 540 million cubic feet per day from the Salman field by February 11, 2010. Negotiations are planned between Crescent and Iran in June of 2010, and the Emeriti company is hopeful that the pipeline will start this year.